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In a bid to ensure transparency and accountability, the parliamentary Public Accounts Committee ( PAC ) has directed officials from the Microfinance Support Centre to compile a comprehensive list unveiling the recipients of Emyooga funds for the 2022/23 fiscal year.
The PAC has further requested specific details on the loan amounts disbursed and recovered, following revelations by the Auditor General that over 70 percent of loans issued by the agency remain outstanding
During the committee session, frustration grew as the agency failed to meet the MPs’ information requirements due to incomplete documentation.
Chairperson Muwanga Kivumbi emphasized the need for records detailing the borrowers, the timing of the loans, and the loan amounts. Kivumbi clarified that the audit focused on the financial year, with additional figures requested for trend analysis.
The committee aimed to assess the utilization of the allocated Shs135 billion for lending and demanded a comprehensive list of beneficiaries to determine where the funds were distributed.
Unveiling the shadows
MP Susan Amero raised concerns about discrepancies in SACCO data, particularly regarding ambiguous listings of districts like Gulu and Lira.
Amero questioned why the agency provided cumulative data instead of isolating the specific financial year in question, suggesting a potential diversionary tactic.
John Mwebembezi, the head of finance at the Microfinance Support Centre, assured the committee that a detailed beneficiary list would be furnished as requested.
Mwebembezi acknowledged that the MPs required additional information to fully understand the portfolio and acknowledged the agency’s commitment to providing the required data.
MP Xavier Kyooma sought clarity on outstanding balances, specifically distinguishing between the principal and accrued penalties. This differentiation is crucial for assessing the agency’s financial health and addressing concerns raised by the Auditor General regarding non-performing loans.
The microfinance support centre officials are expected to appear before the committee on Friday at 9 am, armed with the complete beneficiary lists, information on defaulters, and financial statements of the entity.
The committee eagerly awaits these documents to gain a comprehensive understanding of the Emyooga funds’ utilization and loan performance.
Check also;
- Legislators Call For Suspension Of Police Sacco Deductions
- Speaker Anita Among Backs Enactment Of Laws Protecting SACCOS
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![[dropcap]A[/dropcap] section of women in Bugongo parish and Nawangaiza parish in Nawandala Sub County, Iganga District have decried the near-impossible terms set for them to access GROW funds. They have now petitioned their woman member of parliament for Iganga Hon. Kauma Sauda Alibaawo to ask the government for revised terms and conditions. This is to enable them to benefit from the program. The disgruntled women accuse the implementers of the program of charging the money. They are also asking for their land titles and land agreements. They said that such properties are governed by their husbands. These, therefore want the government through their woman MP to intervene and revise the requirements for one to benefit. The women were on Wednesday at Namabwere primary school in Nawandala Sub County. They had gathered in their respective groups to receive over 300 chickens from Hon Alibaawo in her campaign to improve the livelihood of women in Iganga district. Each group was given 50 chicken as start-up capital in their journey to prosperity. Read what some leaders said; Ms Naigambi Lydia from Nawandala Trading Centre says, “They solicited money from us through opening bank accounts and depositing Shs80,000. They also asked for land titles and land agreements from us yet we don’t have such things. I was informed that I needed to have a business with a capital of Shs4m yet my capital was very small.” The chairperson Kisoboka Saving Group in Nawandala Ms. Nakagolo Faith said they were not able to join the program. This is given the many conditions attached. She also asked their woman MP to raise their concerns to the relevant offices. The MP condemned the mode of implementation of the program. She cited that it has turned to benefit the well-off class of women other than the intended group. She further asked the government to intervene saying the current strings attached to the programme are very tight to accommodate a common woman. GROW project is a Government of Uganda initiative that arose out of the need to respond to the needs of women entrepreneurs. This is especially those who want to grow their businesses, sustain their self-employment and create more jobs. Check Also; Iganga District NRM Leaders Urge Museveni To Fulfill Election Promises Of 2021 International Women's Day: Celebrating Progress Towards Equality](https://newslexpoint.com/wp-content/uploads/2024/11/Iganga-women-decry-tough-terms-to-access-GROW-funds-e1731738339732.jpg)